Yellow metal price in India witnessed a huge drop on Monday. Gold opened in red on September 6.
October gold contracts on the Multi-Commodity Exchange (MCX), fell 0.16 percent to rupees 47,449 for 10 grams.
And, silver was trading flat on Monday. The silver December future was trading up at 0.05 percent to rupees 65,241 per kilogram.
The gold price is retailing at rupees 46,670 for 10 grams of 22-carat in the national capital, Delhi.
While in the business hub of the country, Mumbai, gold price for 22-carat stands at rupees 46,420 per 10 grams.
The 22-carat gold retails at rupees 47,020 per 10 grams in Kolkata and rupees 44,980 per 10 grams in Chennai.
In the international metal market, gold price on Monday breaches around a two-and-half-month peak.
As per to the reports by the news agency Reuters, Spot gold was steady at USD 1,826.65 per ounce. US gold futures were firmed at 0.3 percent to USD 1,828.60.